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  1. Analysis
September 13, 2022

Fintech innovation among medical industry companies has dropped off in the last three months

An analysis of patent filings shows a shrinking level of fintech related applications in the industry over the past three months, compared to last year.

By Data Journalism Team

Research and innovation in fintech in the medical sector has declined in the last year.

The most recent figures show that the number of fintech related patent applications in the industry stood at 11 in the three months ending July – down from 25 over the same period in 2021.

Figures for patent grants related to fintech followed a different pattern to filings – growing from 1 in the three months ending July 2021 to 3 in the same period in 2022.

The figures are compiled by GlobalData, who track patent filings and grants from official offices around the world. Using textual analysis, as well as official patent classifications, these patents are grouped into key thematic areas, and linked to key companies across various industries.

Fintech is one of the key areas tracked by GlobalData. It has been identified as being a key disruptive force facing companies in the coming years, and is one of the areas that companies investing resources in now are expected to reap rewards from.

The figures also provide an insight into the largest innovators in the sector.

Becton Dickinson and Co was the top fintech innovator in the medical sector in the latest quarter. The company, which has its headquarters in the United States, filed 4 fintech related patents in the three months ending July. That was up from 2 over the same period in 2021.

It was followed by the United States based Johnson & Johnson with 2 fintech patent applications, the United States based IQVIA Holdings Inc (1 applications), and Ireland based Medtronic Plc (1 applications).

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